Waste Connections, Inc. (NYSE:WCN) Receives $208.21 Average PT from Brokerages

Shares of Waste Connections, Inc. (NYSE:WCN) have received an average recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $208.21.

A number of analysts have recently commented on the company. StockNews.com downgraded Waste Connections from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Scotiabank upped their price objective on Waste Connections from $192.00 to $207.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 8th. Seaport Res Ptn raised shares of Waste Connections to a “strong-buy” rating in a research note on Tuesday, May 6th. Jefferies Financial Group decreased their target price on shares of Waste Connections from $225.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Finally, BMO Capital Markets raised their price target on shares of Waste Connections from $214.00 to $216.00 and gave the company an “outperform” rating in a research report on Friday, April 25th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Manchester Capital Management LLC purchased a new stake in Waste Connections during the 4th quarter worth approximately $26,000. Private Trust Co. NA lifted its position in shares of Waste Connections by 153.3% in the fourth quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 92 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Waste Connections in the fourth quarter worth approximately $27,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Waste Connections during the fourth quarter worth approximately $28,000. Finally, Smartleaf Asset Management LLC raised its stake in Waste Connections by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Stock Up 0.2%

NYSE:WCN opened at $186.12 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.65 and a quick ratio of 0.65. The company’s fifty day moving average price is $192.35 and its 200-day moving average price is $186.14. Waste Connections has a 1-year low of $160.34 and a 1-year high of $201.66. The firm has a market capitalization of $48.09 billion, a P/E ratio of 77.87, a PEG ratio of 3.07 and a beta of 0.66.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.06. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.22 billion. Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the firm earned $1.04 EPS. As a group, equities research analysts anticipate that Waste Connections will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Wednesday, May 7th will be given a $0.315 dividend. The ex-dividend date is Wednesday, May 7th. This represents a $1.26 annualized dividend and a dividend yield of 0.68%. Waste Connections’s dividend payout ratio (DPR) is 51.85%.

About Waste Connections

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.